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20130209
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Search Results 0 to 7 of about 8 (some duplicates have been removed)
PBS
Jan 31, 2013 9:00pm PST
threatening to vote against raising the debt ceiling. if congress didn't act by august 2, the federal government would be unable to pay its bills. >> in 2010, when all these republicans were running for congress, ma of em awed tea partiers and the rest of them riding the tea party wave, the subject of the impending debt ceiling came up frequently and virtually all of them campaigned saying... pledging not to raise the debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, jo
PBS
Feb 5, 2013 11:00pm PST
: looking today at the debt ceiling question. do you think that's more severe and more threatening than any sequestering? >> by far. by far. the sequester, if it happens on march 1, is going to cut government spending immediately by about 85 billion. that's about 6 or 7 tenths of a percent of g.d.p. and over ten years 1.2 trillion. if we bump into the national debt ceiling and by the way the good news is the republicans are talking more and more like this is not going to happen. but if we do, we have to go to a balance budget in a minute. can't borrow anymore. we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have t danger of kicking off a worldwide financial panic as people start worrying about, well, is the united states going to default on its debt? if it comes down to paying social security payments or the interest on the debt, are we so sure that america will cut the social security payments and pay the interest on t
PBS
Jan 31, 2013 5:30pm PST
into further deficit and debt. >> obviously democrats would prefer a longer suspension of he debt ceiling which would provide additial economic security and stability as we continue to find ways to decrease the deficit. raising the possibility that the u.s. could default its obligations every few months is not an ideal way to run government but a short term solution is better than another imminent manufactured crisis. >> holman: the house already passed the bill. without it, the government would default on its obligations as early as mid-february. in economic news, americans' personal income grew in december, by the most in eight years. but first-time claims for jobless benefits were up last week. and on wall street today, the dow jones industrial average lost nearly 50 points to close at 13,860. the nasdaq fell a fraction of a point to close at 3,142. blinding snowfall and a slick freeway triggered a mile-long series of crashes in detroit today. at least three people were killed and 20 more injured. the pileups left a section of interstate 75 littered with wrecked cars and big-rig trucks. the
PBS
Feb 7, 2013 4:30pm PST
's the fight they want to have. it was the price that they paid to avoid the fight over the debt ceiling and potential government shutdown. >> reporter: the president's state of the union will also include a pitch for more job creation. and it will be cast as part of an overall plan to make the economy work for everyone. >> the question that i will ask myself on every item, on every issue is, is this helping to make sure that everybody's got a fair shot and everybody is doing their fair share and everybody is playing by the same rules, because i believe that is a growth agenda. >> reporter: the republican response will be delivered by florida's marco rubio, a strong supporter of immigration reform. rubio says he'll stress how free enterprise can help strengthen the middle class. darren gersh, "n.b.r.," washington. >> susie: more uncertainty today about when boeing's dreamliner will be cleared to fly. the nation's top transportation safety official, is now questioning the testing process used to assess the safety of lithium ion batteries in boeing 787 planes. the national transportation s
PBS
Feb 6, 2013 5:30pm PST
spending reductions just as republicans had to agree to raise the national debt ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the united states government. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the repubcansho are bng irresponsible, by rejecting the president's appeal out of hand. >> he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a rectespoe to e looming,cross-the-ard cuts. u.s. and british r
PBS
Feb 7, 2013 9:00pm PST
to the financial crisis. >> next timfrontline... >> the debt ceiling represents a massive fiscal heart attack. >> after the fiscal cliff. >> extreme ideological people who have never governed, and now they're congressmen. >> another crisis to come. >> enough is enough. you will not spend another dime, you will not put us in hock. >> frontline investigates the ongoing battle. >> throw the country into default... >> it is time to call their bluff. >> political armageddon. >> what's the word? madness. >> go to pbs.org/frontline foa closer look at civil cases and penalties that have come out of the crisis. >> this isotal about what went on on wall street. >> martin smith's extended interviews with ted kaufman, lanny breuer and phil angelides. more of frontline's coverage of the financial crisis, including our landmark series "money, power and wall street." connect to tfrontline community on facebook and twitter or tell us what you think at pbs.org/frontline. >> frontlinis made possible by contributions to your pbs station from viewers like you. and by the corporation for public broadcas
Search Results 0 to 7 of about 8 (some duplicates have been removed)